Canada’s condo market: A look at 2025 and beyond

The Canadian condo market remains a crucial part of the real estate landscape, particularly in Ontario, Alberta and British Columbia. In 2025, the condo sector faces both opportunities and unique challenges that require insight and strategic foresight. With significant inventory on the market, changing interest rates, and delayed new developments, the way forward is complex.

While Ontario is the hub for much of this activity, the ripple effects in B.C. and Alberta are already becoming apparent.

Impact of rate cuts and the supply challenge

The rate cuts so far, combined with signals of further reductions, offer potential upside for both the pre-construction and resale markets, but the current inventory surplus poses a more significant challenge.

Lower rates help open the door for more buyers, which is encouraging for the condo market’s significant inventory surplus. This surplus includes both resale units and pre-construction condos that were launched during the real estate boom of recent years, leading to an unprecedented supply level in today’s market.

How quickly we can work through this supply will depend on rate-cut momentum and the re-engagement of buyers in both the resale and pre-construction markets. The condo sector may see a gradual recovery in the resale segment, followed by low-rise units, with pre-construction inventory absorption picking up toward the end of 2025 and into 2026. This timeline requires the right conditions—favourable rates, economic stability, and sustained demand from end-users and investors.

A limited pipeline after 2026: potential price spikes and affordability issues

One of the most significant trends for the condo market is a pause on new pre-construction project completions beyond 2026. With inventory absorption expected to stabilize over the next year, the market will face a supply gap, as few new project construction starts in 2023 to 2025 will drastically impact the supply of completions from 2027 to 2029. This lull in new builds will likely create a constrained market where prices will surge once demand fully returns, creating affordability concerns that echo across Canada’s major cities.

In Ontario, and particularly Toronto, this limited future pipeline will impact price dynamics dramatically. Many buyers and investors are currently holding off due to the uncertain economic climate, yet as soon as the existing supply is absorbed, the demand will likely outstrip available inventory. In markets like B.C., which often mirror Toronto’s trends, we can expect similar patterns. With a scarcity of downtown inventory, suburban markets in both B.C. and Ontario are also likely to experience heightened demand and price appreciation, a pattern Alberta’s urban centres may see as well, albeit on a smaller scale.

The future of condo development: a look toward 2029

Beyond the immediate absorption phase, the market’s slowdown in new project launches suggests that the Canadian condo sector is preparing for a reset. As existing inventory is gradually absorbed, developers will be cautious with new launches, focusing on building only where there is clear demand and strong absorption. This intentional slowdown, while necessary, also means that by 2029 we may find ourselves in a very different market, one where affordability is even further strained.

The lack of new supply will drive up prices dramatically, impacting end-users and investors alike. As affordability wanes, rental markets will feel the pressure as well, which could lead to an overall housing crunch, especially in high-demand areas. Once inventory is constrained, prices are expected to increase steadily, reinforcing the importance of government intervention to reduce red tape and taxes to ease the pressure on developers.

Positioning for success amidst uncertainty

The combination of rate cuts and high supply has set the stage for a gradual recovery, but it is not without obstacles. Absorbing the current inventory requires strategic adjustments from developers and decisive action from policymakers.

For cities like Toronto, Calgary, and Vancouver, the challenges of high prices and limited new supply will only intensify without proactive measures to enhance affordability, increase supply, and balance suburban and urban growth. With fewer new development completions on the horizon until 2029, it is imperative that stakeholders collaborate to address the impending supply gap and affordability issues that will define Canada’s real estate landscape for years to come.

Through foresight and action, we can position Canada’s condo market for resilience. But it will take a coordinated effort among developers, government, and industry leaders to ensure that the market remains both viable and accessible for buyers.

Riz Dhanji is a pre-construction sales and marketing specialist at RAD Marketing.

2024 saw historic rental supply growth

According to the latest report from Canada Mortgage and Housing Corporation (CMHC), Canada’s supply of purpose-built rental apartments grew by 4.1 per cent in 2024, the highest increase in over thirty years, pushing the national vacancy rate from 1.5 per cent in 2023 to 2.2 per cent last year.

Additionally, the average rent growth for a 2-bedroom apartment saw a significant slowdown in 2024, as rents rose 5.4 per cent for a 2-bedroom unit, down from a record 8 per cent in 2023. However, when a unit turned over to a new tenant, rent growth was 23.5 per cent in 2024, unchanged from 2023.

“Affordability for Canadian renters remains a challenge, particularly for new tenants who faced significant rent hikes as units turned over, limiting mobility for existing tenants and making it harder for prospective tenants to enter the market,” said Tania Bourassa-Ochoa, CMHC’s Deputy Chief Economist. “However, record growth in rental supply helped slow down average rent growth and raise vacancy rates closer to the historic average, underscoring the critical role of added supply in improving housing affordability.”

The rented condominium apartment market also remained tight in 2024. The average vacancy rate for rented condominiums in the 17 census metropolitan areas surveyed by CMHC remained at 0.9 per cent in 2024, unchanged from 2023, and down from 1.6 per cent in 2022. Average 2-bedroom rent was up to $2,173 in 2024 from $2,049 in 2023.

Report Highlights:

Toronto had the lowest rent growth among major cities at just 2.7%, down from 8.8% in 2023. This is the result of rising vacancy rates and the lowest turnover rate of the major CMAs, which declined further in 2024. With a record increase rental supply, landlords prioritized tenant retention by taking a more cautious approach to rent increases.
In Montréal, rental apartment completions remained among the highest on record, pushing vacancy rates higher, while in Vancouver, rental supply grew at a slower pace than the previous two years but still above historical rates. In both markets though, persistently high demand meant rent growth didn’t slow as much as it did in Toronto.
While Calgary’s rent growth slowed significantly in 2024 it still outpaced all other large urban centres due to strong demand for rentals, driven by migration-led population growth and stable economic conditions, despite higher unemployment.
In Halifax, strong rental supply growth and slower population growth relieved some of the pressure in the rental market. As a result, the vacancy rate saw significant growth to 2.1% this year, while average rent growth saw the largest year-over-year decrease of the major markets, down to 3.8% in 2024 from 11% in 2023.
Ottawa and Edmonton differed from the other major markets as rent growth in 2024 slightly accelerated, primarily driven by higher rent increases for new tenants at turnover and in newly completed units entering the market.

Read the full Rental Market Report on the CMHC website.

Guideline taps into drinking water aesthetics

Appearance supersedes health as the motivation for a newly released Canadian guideline for the acceptable level of iron in drinking water. The threshold of less than 0.1 milligram, or 100 micrograms, per litre is categorized as an “aesthetic objective” to help boost consumer confidence in the quality of water that municipal utilities provide.

Background from Health Canada’s Safe Environments Directorate reiterates that iron is unlikely to cause health effects unless more than 45 milligrams per day are ingested. Drinking water typically accounts for less than 10 per cent of most consumers’ total daily iron intake.

Nevertheless, iron oxides in water can cause discolouration and a metallic taste. At higher concentrations, there is some concern that the by-products of iron corrosion can undermine the effectiveness of disinfectants used to treat the water supply. Meanwhile, processes to remove iron often have wider health benefits since they can also reduce concentrations of other minerals, such as manganese.

Municipal water utilities rely on various technologies, including aeration, chemical oxidation, coagulation in tandem with granular or membrane filtration, adsorption or biological filtration. “Most well-operated and optimized treatment plants can achieve iron concentrations of 0.1 mg/L or less in the treated water,” the government advisory states.

The guideline was subject to a 60-day public consultation in 2023 and the final version reflects feedback from that process.

Four-tower Festival community tops off in Vaughan

Menkes Developments and QuadReal topped off Festival, a four-tower condo community in the south Vaughan Metropolitan Centre, which broke ground in 2021.

The development sits on a 5.5-acre property bounded on the north and south by Highways 7 and 407, and Hwy 400 to the west and includes four towers ranging in height from 41 to 59 storeys and 2,470 residential units. The project was named Canada’s Best-Selling Condominium Community for two consecutive years in 2020 and 2021.

The first tower began welcoming residents in early 2024, with occupancies expected to continue for all towers through to Fall 2025. Festival will eventually be home to more than 5,000 residents.

Across the project are 70,000 square feet of indoor amenities, 85,000 square feet of commercial space, public open spaces, and a covered pedestrian mews connecting residents and visitors to future phases of the masterplan. The overall value of Festival is $1.5 billion dollars.

“The creation of both Festival and the broader Assembly Park community has been a collaborative and thoughtful process, and we are thrilled to officially top off this dynamic part of the new Vaughan Metropolitan Centre,” said Toby Wu, executive vice president of development, Canada, QuadReal. “Leveraging a long-term approach to investment and development enables us to build thriving communities in markets where people want to live.”

Last year Menkes and QuadReal launched the next phase of the VMC masterplan known as Bravo – a three-tower community directly south of Festival. Bravo will feature 1,654 residential units, at grade retail, the continuation of the covered pedestrian mews and a privately-owned public park space.

“We brought the urban lifestyle that we deliver in our large mixed-use projects like Harbour Plaza in the South Core and Sugar Wharf on Toronto’s Waterfront to the VMC,” said Jared Menkes, executive vice president of high rise residential.

The partners also recently completed Mobilio, VMC’s first mixed-density residential community with three mid-rise condominium towers (750 units), 400 townhouses, park space and amenities all in one site.

Ontario introduces crane inspection schedule

Additional tower crane safety measures are now mandated in Ontario. Amendments to the Occupational Health and Safety Act regulation for construction projects came into effect on Jan. 1, stipulating compliance with the most recent CSA standards for crane design, erection and dismantling and introducing new inspection requirements.

All components must now be inspected and verified to be operationally sound at 10-year intervals from either a crane’s manufacture date or its previous inspection. This includes examination of electrical, mechanical and hydraulic elements and control systems that can affect the crane’s structural integrity, stability and motion, as well as any non-structural components that may be vulnerable to cracking, damage or wear.

An engineer must oversee and confirm the validity of the inspection process, which is to be conducted by experts “with knowledge, training and experience that permits them to identify any defects and the appropriate actions to correct or repair the defect”. If repairs, overhauls or replacement parts are deemed necessary, an engineer or the equipment manufacturer must be on hand to instruct the work.

Inspections can be postponed if the 10-year anniversary of manufacture or the previous inspection occurs while a crane is operating on a construction site. However, once dismantled, they must be inspected before they can be erected for another project.

RioCan’s Jennifer Suess joins Order of Ontario

Jennifer Suess, senior vice president and general counsel with RioCan Real Estate Investment Trust, has been named to the Order of Ontario. She is among 29 inductees for 2024, who have been honoured for their exemplary accomplishments for the betterment of their communities, the province, Canada and the world.

“They have attained the highest level of excellence in many fields,” observes Edith Dumont, Lieutenant Governor of Ontario. “May we all be inspired by their remarkable contributions.”

Suess joined RioCan in 2017 as its first-ever general counsel and is a key member of the REIT’s management team, overseeing and directing the legal, ESG, insurance and lease administration departments. She is also the founding executive sponsor of RioCan’s in-house network to promote women’s advancement in commercial real estate, and a member of the board of directors of the Hospital for Sick Kids Foundation.

Earlier in 2024, she was recognized as one of Canadian Lawyer’s top 25 most influential lawyers, denoting her excellence within and impact on the legal system over the previous 18 months. Upon her appointment to the Order of Ontario, she joins a select group of 903 inductees, province-wide, since it was established in 1986.

“Her accomplishments have served to distinguish her as an outstanding lawyer and her transformative initiatives have helped to reshape the internal workplace culture of a business that has a considerable impact on the economies in Ontario and nationwide,” Suess’ provincial citation states.

More Christmas tree fires likely to occur in January

A recent Christmas tree fire in a Toronto low-rise has put the spotlight on the importance of fire safety and educating tenants around holiday-related fire hazards. According to the Office of the Fire Marshal (OFM), the holiday season is statistically the deadliest for residential fires with one-third of Christmas tree fires occurring in January.

“Each year, we see a rise in the number of fatal fires and fire deaths starting in November and continuing into January, making this the deadliest time of year for fires in Ontario,” said John McBeth, Ontario Fire Marshal and Acting Chair of the Fire Marshal’s Public Fire Safety Council in a press release.

The OFM launched a campaign through December to educate the public about common fire hazards associated with the festive season, from ensuring trees are properly watered to keeping space heaters a safe distance from curtains. Common causes of Christmas tree fires include: electrical problems; trees positioned too close to candles and fireplaces; damaged string lights; and un-watered trees that are left up too long into the new year.

Meanwhile, poor building conditions are also known to be leading causes of fire and injury in low-rise multi-unit residential housing. According to the City of Toronto, factors include: renovations done without the required permits and approvals; inadequate exits for Basement, 2nd, and 3rd Floors; lack of an interconnected smoke alarm or fire alarm system throughout the building; interior finishes not done to Code, increasing speed of flame spread; and lack of proper electrical upgrades to accommodate increased electrical loads.

Vrancor Group to redevelop Niagara Falls hotel

Ontario-based Vrancor Group has acquired the 232-room Radisson Hotel & Suites in Niagara Falls with plans to undertake a comprehensive renovation and relaunch. The property is now closed but is expected to reopen under the IHG Hotels and Resorts voco brand.

The hotel sits on a large site near Horseshoe Falls, the Niagara Falls Convention Centre, Fallsview Casino and the Skylon Tower, and also accommodates two restaurants in leased space. It is among about 80 projects in the redevelopment pipeline for IHG’s voco portfolio, which currently comprises 77 pre-existing hotels that have been converted to the upscale brand.

The new owner has a track record building, redeveloping and managing hospitality properties, and has partnered with IHG, Hilton, Marriott, Best Western and Accor. Vrancor currently operates 22 hotels throughout Ontario, including in the Greater Toronto Area, Hamilton, Niagara, Brantford and Timmins. The vendor, Benderson Development, is based in Buffalo, New York.

Bela Square brings mix of new rentals to East York

DBS Developments’ latest project, Bela Square, is closing in on completion with full occupancy at the purpose-built rental community anticipated for later this spring. The expansive property, located near Main and Danforth in East York, Toronto, includes a seven-storey mid-rise, a 35-storey high-rise, and a host of on-site amenities, with direct access to ample green space at Taylor Creek Park and the brand-new Bela Park.

“Bela Square is a purpose-built rental community designed to address the specific needs of today’s renters,” said Bryan Levy, CEO of DBS Developments. “Its diverse range of homes, from one-bedroom to spacious four-bedroom townhomes, ensures options for individuals, couples, and families. The modern interiors feature premium finishes, including stainless steel appliances, luxury vinyl flooring, and in-suite laundry, catering to a high standard of living.”

According to Levy, the development integrates thoughtfully curated amenities such as a fitness centre, a children’s playroom, a pet washing station, and an abundance of green space. It also incorporates innovative technology, including an app designed to make life easier for residents, enabling them to make online payments and service requests, book amenities and stay informed of community events.

“These features all align with modern lifestyles, particularly in neighbourhood spaces for children to play and socialize,” he said. “The emphasis on community-centric design fosters a sense of belonging and enhances the appeal of Bela Square as a rental community that meets practical needs.”

Filling the gaps

Bela Square stands out in the surrounding vicinity for a few reasons, as Levy pointed out. First and foremost, it offers larger suites and townhomes intended to appeal to families—which Levy calls an “often underserved demographic” in the rental market. Secondly, it is one of the few new purpose-built rental communities among much older buildings, addressing a significant gap in the neighbourhood’s housing needs.

DBS acquired the land in the1970s, marking the developer’s entry into East York with the construction of 90 Eastdale Avenue—a high-rise building that remains part of what DBS calls its “Legacy Communities”.

The two new buildings in the Bela Square development kicked off construction in March 2021—the first, a seven-storey mid-rise at 94 Eastdale featuring 80 residential suites has already opened to tenants. Meanwhile, the adjacent high-rise at 100 Eastdale achieved a major milestone in October 2024, with the “topping off” and crane removal. The 35-storey building, offering a mix of rental suite sizes, is on track to welcome its first residents in just a few months.

“The construction of Bela Square has been a meticulously planned, milestone-driven project reflecting DBS Developments’ long-standing expertise in creating purpose-built rental communities,” said Levy. “What further sets Bela Square apart is its long-term ownership and management by DBS Developments after construction is complete, ensuring a consistent and exceptional standard of service.”

The DBS pipeline

Bela Square isn’t the only new rental community in DBS’s future. According to Levy, the company is focused on expanding its purpose-built rental portfolio to address the growing gap in Toronto’s housing market.

“Looking ahead, we will remain committed to developing more purpose-built rentals in areas that align with our vision, addressing the demand for quality rental housing in neighbourhoods where it is most needed,” he said. “Our strategic approach ensures that future projects will continue to provide modern, well-managed homes that cater to a variety of demographics, including families and professionals. We will have more to share on our upcoming pipeline in 2025.”

Additional facts about Bela Square:

The leasing for 100 Eastdale’s 404 suites will commence in the new year, with occupancy anticipated by late spring/early summer of 2025
The multi-tower community includes top-of-the-line facilities and amenities, including a fitness centre, yoga studio, boxing room, children’s playroom, pet spa, party room and a theatre, among other offerings
Building residents will have access to both privately owned and publicly accessible spaces, including the community park, outdoor pool, splash pad, community garden, and dog run
EV charging stations will be available for electric vehicle owners

For more information, visit: www.dbsdevelopments.com

Capstan SkyTrain Station opens in Richmond

The newly completed Capstan SkyTrain Station on the Canada Line officially opened in December. The station will help deliver more efficient rapid transit in the growing Capstan Village area of Richmond.

Located between Aberdeen and Bridgeport stations on the Canada Line, Capstan Station will provide sustainable transportation to a rapidly growing neighbourhood, which is expected to soon be home to roughly 16,000 Richmond residents.

This is only the second time TransLink has constructed an additional station to serve an existing line, and the first new station on the Canada Line. The Lake City Way Station opened in 2003 on the SkyTrain Millennium Line, a year after that line became operational.

“This brand-new station, located in the heart of a bustling community, will enable current and future residents of Capstan Village to make transit their number one transportation choice. This entire project underscores how fast, frequent, and accessible transit connects our region and strengthens our cities,” said Kevin Quinn, CEO, TransLink.

The new Capstan Station’s unique amenities include larger platform waiting areas, an expanded street-level concourse to reduce congestion, dual sets of escalators, and space for future commercial opportunities. It is also TransLink’s first all-digital station with enhanced display screens for easier information sharing.

The new station is the result of an innovative agreement between TransLink and the City of Richmond, established through a precedent-setting funding model involving the City of Richmond and Capstan Village developers. Over half of the construction costs for Capstan Station came from developer contributions. TransLink worked closely with the City of Richmond on station design, with the community in mind.

The station features distinctive interior art from local artist Howie Tsui that depicts aquatic life in the Fraser River estuary. The large mosaic spans more than 3,600 square feet and was created using more than 3,500 custom-made glazed glass and metallic tiles.

“The Capstan Station is an example of how the City of Richmond, through an innovative first-of-its-kind-in-Canada funding collaboration with developers, can deliver much needed community amenities without direct costs to local taxpayers. The station will bring sustainable transportation closer to thousands of residents and support this vibrant, growing neighbourhood for decades to come,” Richmond Mayor Malcolm Brodie.

Prioritizing hygiene and sanitization during cold and flu season

Cold and flu season is in full swing, making sanitization and hygiene top priorities as janitorial staff work hard to keep commercial spaces safe and clean. As the weather gets colder and people spend more time indoors, there’s an increased risk for respiratory illnesses. Recent studies show that sick people can transfer germs to soft surfaces like furniture, curtains, and rugs when coughing or sneezing directly on these surfaces and that common cold germs can survive up to six hours on fabric.

As we navigate through the winter, there are some steps that cleaners and facility managers can take to limit the spread of germs this season, increase safety in your space, and help decrease absenteeism from your staff:

Continue to clean and disinfect vigilantly for safety. Focus on high-touch areas like elevators, shared equipment, keyboards, coffee stations, door handles and light switches, and restrooms, cleaning frequently to eliminate germs wherever possible.
Encourage hand hygiene by continuing to stock sanitization stations with supplies and making them available to staff and visitors. Putting them in high-traffic areas like lobbies, restrooms, and break rooms helps keep sanitization top of mind for staff and guests.
Make health a priority by training staff in strict cleaning protocols, and training new staff as they arrive to ensure that best practices are maintained.
Encourage employees to take the time they need if they are ill. While being short-staffed may cause a temporary issue, asking sick employees to stay home means that illness may be contained to just one or two employees, rather than spreading through your entire team.
When hosting company events, ensure that food handling is conducted properly. Avoid community bowls, shared cutlery, and lineups where employees have close contact.
Restrict unnecessary travel for work. Choose video calls or remote meetings where it is possible to limit the exposure of your staff to germs and illness.

From cleaning to team training, facility managers need to be vigilant in limiting the spread of germs, keeping people safe, and decreasing absenteeism this winter.

Jacob Bros awarded Victoria Highway 1 contract

The B.C. government announced RapidBus infrastructure upgrades are coming to Highway 1 from McKenzie Interchange through to the Six Mile area.

A contract has been awarded to Jacob Bros Construction for completion of the Highway 1 Bus-On-Shoulder-Lanes project, which will widen nearly four kilometres of the highway between the McKenzie and Colwood interchanges to accommodate continuous northbound and southbound bus-on-shoulder lanes.

The designated lanes will enhance existing rapid transit services, reducing stoppages and congestion along the highway. It will complete an important aspect of the South Island Transportation Strategy to provide a rapid bus system between downtown Victoria and the Westshore communities.

The project includes a new pedestrian and cyclist bridge for the Galloping Goose Trail crossing at Craigflower Creek, which will improve active transportation on this route. The project also includes ecological restoration works, upgraded bus stops at Helmcken Road, realignments to Portage Road, ramps and roadside barriers.

“We know everyone needs a commute they can count on to and from work, home and school – especially between our busy south Island communities,” said Minister of Transportation and Transit Mike Farnworth. “Dedicated bus lanes make travel easier for everyone on the road and will make transit the obvious choice. This project is another way we’re making our highways sustainable for years to come.”

Jacob Bros. Construction was awarded the contract in early December for $54.5 million and construction is set to begin in early 2025. The project is expected to be complete by late fall 2027.

The bus-on-shoulder project is jointly funded with the province contributing $67 million and the federal government investing $28 million through the Public Transit Infrastructure Stream of Investing in Canada Infrastructure Program.

Growing your cleaning and maintenance services in the new year

As the new year takes off, it’s the perfect time to refine your strategy for growing your commercial cleaning and maintenance business. Increasing your client base doesn’t have to involve a hefty financial investment—it’s about focusing on innovative, actionable tactics that deliver results.

Here are the top six easy-to-implement tips to help you attract more clients and set your company up for success this year.

Leverage referrals and testimonials: Referrals and testimonials are powerful tools for building trust and credibility. Satisfied clients can become your best advocates, so don’t hesitate to ask for referrals and publish them on your website and social media channels.

Optimize your online presence: An effective online presence is critical for attracting potential clients. Ensure your website and social media profiles are professional, current, and informative. To enhance your online visibility:

Use local SEO strategies, such as optimizing your website with location-specific keywords (e.g., “commercial cleaning services in [city]”).
Regularly post content that positions your business as an expert in the industry. Topics could include cleaning tips, maintenance best practices, or industry trends.
Encourage satisfied clients to leave positive reviews on your Google Business Profile and Yelp.

Focus on networking: Building relationships within your community can lead to valuable business opportunities. How to start:

Join local professional associations and attend networking events to connect with decision-makers in industries that need cleaning and maintenance services.
Partner with complementary businesses, such as property management or office supply companies for cross-promotional opportunities.

Offer customized solutions: Clients appreciate tailored solutions that address their specific needs. When approaching potential clients, take the time to understand their pain points and offer a customized proposal. For example:

Conduct a free on-site assessment to identify areas where your services can improve efficiency or cleanliness for them.
Create flexible service packages that align with their budget and priorities.

Stay consistent with follow-ups: Persistence pays off in sales. Many potential clients won’t commit immediately, but consistent follow-ups can keep your business top-of-mind. Here’s how to follow up effectively:

Use email marketing to share interesting, helpful content, such as tips for maintaining cleanliness or updates on your services.
Follow up after initial meetings with a thank you note and a summary of how you can meet their needs.
Periodically check in with past prospects who didn’t initially sign on to see if their needs have changed and you can help.

Use social media wisely: Social media platforms are free to use and offer immense potential for reaching new clients. To make the most of social media:

Post-before-and-after photos of cleaning projects to showcase your skills and results.
Share client success stories or case studies as a reference for new prospects.
Increase user-generated content and engage with your audience by responding to comments and questions promptly, and encouraging your audience to share your content.

Communicating value to prospective clients

When communicating value to prospective clients, it’s crucial to highlight how regular cleaning and maintenance programs can significantly enhance their operations. Emphasize that such programs ensure a pristine and safe environment, which can lead to increased productivity and employee satisfaction. Explain that proactive maintenance can extend the lifespan of their assets, reduce unexpected downtime, and ultimately save costs by preventing expensive repairs.

Tailor your conversation to address specific client needs, demonstrating a deep understanding of their industry challenges and how a customized cleaning and maintenance program can provide effective solutions. Use real-life examples and case studies to illustrate tangible benefits, building trust and credibility. Highlight how such programs elevate brand image, strengthen health and safety standards, and create inviting spaces that appeal to clients, partners, and employees, improving overall business performance.

Selling commercial cleaning and maintenance services doesn’t have to break the bank. The key is consistency, professionalism, and understanding your clients’ needs. With these actionable tips, you’ll be well-positioned for an outstanding 2025.

Alex Caravaggio is the Master Franchise Owner for Anago of Southern Ohio and Anago of Colorado, part of the Anago Cleaning Systems brand supporting over 1800 franchises across the U.S. and Canada. For more information about Anago of South Ohio or Anago of Colorado, visit AnagoCleaning.com/SouthernOhio or AnagoColorado.com.

Insights from Altus Group’s Q3 Vancouver market update

After a strong second quarter, investment activity in Vancouver eased for most sectors in Q3, according to the latest insights from Altus Group. Overall, the Vancouver market recorded $7.2 billion in dollar volume transacted year-to-date, an increase of 21 per cent from a year ago; however, investment activity slumped in the third quarter with only 1.6 billion in dollar volume transacted.

Vancouver’s multifamily sector recorded $967 million in dollar volume transacted, marking a 75 per cent year-over-year increase. Long-term outlook for the sector has remained positive, as strong population growth continues to sustain rental demand and outpace available supply. Moreover, as inflation has returned to the two-percent target, the Bank of Canada is forecasted to continue cutting interest rates. Although these cuts have not translated into any significant uptick in multifamily investment activity, investment volumes are expected to increase in response to more favourable financing conditions in 2025.

The industrial sector reported nearly $1.6 billion in dollar volume transacted, a decrease of 9 per cent year-to-date. Despite the slowdown in investment activity, Altus Group predicts the long-term outlook for the industrial sector will remain positive as Vancouver continues to be a vital trade hub for Canada.

Meanwhile, the city continues to grapple with challenges associated with the limited supply of land (residential land and ICI land), which has resulted in extremely low availability rates, increased land prices and construction costs, and higher development cost charges. The land sector posted $3.3 billion in dollar volume transacted—a 24 per cent increase from last year. However, investment activity in the third quarter waned, with only $855 million in dollar volume transacted, down 51 per cent from Q2. The ICI land sector recorded $1.8 billion in dollar volume transacted, marking a 45 per cent increase year-over year, while the residential land sector was up just five per cent.

The office sector posted $566 million in dollar volume, marking a 14 per cent increase over last year’s transactions. Altus group noted that several high-profile office buildings sold in Q2, contributing to an unanticipated boost in the office sector’s year-to-date investment volume. As the “flight-to-quality” trend persists, leasing activity continues to skew towards premium Class-A office buildings, which has increased competition across the Class-A market while outdated Class-B and -C buildings are at risk of functional obsolescence.

The retail sector reported $851 million in dollar volume transacted, a 57 per cent increase over last year. Leading the way was food-anchored retail strips, which continued to be preferred for their low-risk, stability as consumers focused their spending on essential goods and services. Vancouver’s retail sector remained resilient with several shopping centre redevelopments and mixed-use projects slated for completion in the neat future.

For the full report from Altus Group, click here: Vancouver Commercial Real Estate Market Update – Q3 2024

Construction Plastics Initiative launches in B.C.

Light House has launched a new initiative aimed at diverting and upcycling plastic waste from approximately 10 Metro Vancouver construction sites. The pilot program, The Construction Plastics Initiative, is running now until February 2026 and is actively seeking projects to bring on board.

The objective of the initiative is to demonstrate the feasibility and financial viability of a circular economic model for plastic waste generated on construction sites. The intention is to collect, separate, measure and process plastics from construction sites to determine the amount and types of plastic waste being generated in British Columbia’s construction sector and to demonstrate circular economic solutions to divert and repurpose the plastic into new products. Project participants will be able to showcase their leadership by pioneering plastic diversion and using the locally manufactured building products in their projects.

Currently, there is a lack of comprehensive studies in North America quantifying the volume of construction plastic waste directed to landfills. Studies from Europe suggest approximately 80 per cent of plastic waste from on-site construction activities consists of clean packaging materials, which are readily divertible from landfills.

“This pilot project aims to provide valuable insights into the extent of construction plastic pollution in North America and to identify opportunities for circular innovation in managing construction plastics,” said Gil Yaron, managing director, Circular Innovation, Light House. “In Canada right now, virtually all of the plastic generated on these construction sites is ending up in landfill or being buried on site. We’re bringing partners together through the construction plastic value chain, developing a management framework to collect, monitor and track the flow of materials, and we’re exploring the business case and sale of derivative building products back into the construction sector.”

Collected plastics from all projects will be processed by Ocean Park Recycling before being recycled into a reusable plastic pellet, which will be integrated into the manufacturing of a range of new building products. The pilot program will help developers and general contractors reduce material use and the embodied carbon associated with their projects.

Through this initiative, Light House is not only reducing the environmental impact of construction but also preparing the industry for the federal government’s upcoming plastics registry reporting requirements in 2026—helping to set a new standard for sustainability in construction.

Effective snow removal for your property

While we have not yet had a significant snowfall this season, now is the perfect time to work on a proactive strategy for snow removal on your property this winter. From walkways to parking lots, a snow removal strategy can help you save money, manage logistics, increase safety, and optimize operations through the winter season.

Assess your needs

Can you manage the snow removal on your property manually, or do you need professional services? Determine whether you can handle the volume of snow internally or whether it’s time to outsource your snow removal.

Following the removal, you need to consider snow storage and where to put the snow once it has been removed from common areas. Designate a specific area for a snow pile that is out of the way and even when it starts to melt, should not create a hazard on your property. Ensure that it will not result in a slip-and-fall risk, flooding, or block traffic as the snow melts and refreezes throughout the season. Also, take a look at the drainage in your parking lot and remove any obstructions so the water can properly drain during the freeze-thaw cycle and once the weather warms up in the spring.

Get the tools and equipment

Follow a reliable weather station to stay up to date on impending weather and storms. Stock up on supplies like ice melter or salt, tools like snow blowers and shovels, and signage, so that you are ready to take action once the snow falls.

Train your teams

Designate members of your team to keep walkways clear to allow access for employees and visitors throughout the season. Establish an action plan for power outages, including emergency lighting and heat, evacuation plans, and a phone tree or email list to notify staff. Create a manual and hold staff training so everyone on the team knows the protocols in case of emergency.

Effective snow removal can be achieved when you know your needs, plan ahead, are ready with the tools and equipment you need, and train your staff to prioritize snow removal as part of your winter maintenance.

APEGA names new CEO and registrar

The Association of Professional Engineers and Geoscientists of Alberta (APEGA) announced that Paul Wynnyk, CMM, MSM, CD, P.Eng., has been selected as its new registrar and CEO effective April 1, 2025.

Wynnyk brings a wealth of experience serving the public, spanning four decades in the Canadian Armed Forces and with the Government of Alberta. Wynnyk holds a bachelor’s degree in civil engineering, was commissioned into the Canadian Military Engineers in 1986 and currently serves as the acting deputy minister of Executive Council for the Government of Alberta.

“I am honoured to join APEGA as its next registrar & CEO, and I am grateful to be selected for this role where I may continue serving the public interest,” said Wynnyk. “APEGA has a proud history of regulating the engineering and geoscience professions in Alberta, and I am dedicated to ensuring we maintain the high standards that have been built over the past century.”

Wynnyk was selected after an extensive search by an executive search firm and a thorough review by an APEGA Council task force. The task force began its work in April 2024 when current RCEO Jay Nagendran announced his upcoming retirement.

“I am proud of what Jay has accomplished in his tenure of almost eight years as registrar & CEO of APEGA,” said APEGA president Tracey Stock, KC, P.Eng., PhD, FEC, FGC (Hon.). “On behalf of council and as the task force chair, it has been a pleasure working with Jay, and we wish him well on his upcoming retirement. I also thank the council task force for finding such an outstanding successor. With Paul’s background as a professional engineer, a dedicated public servant, and an accomplished leader, APEGA will be in capable hands.”

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